DIB, one of the UAE's fastest-growing banks, is anxious to capitalise on new business opportunities being developed with India, which ranks as the UAE's sixth-largest export destination.
DIB's delegates to the exhibition will meet government officials and Indian business leaders at the exhibition, taking place at the Mumbai World Trade Centre, to discuss opportunities to facilitate trade and investment between the UAE and India and further strengthen ties between the nations.
"International trade with India has played a vital role in the economic development and growth of the UAE and Dubai Islamic Bank has always been supportive of this, facilitating trade, supporting bi-lateral investment and strengthening our relationship with India," said Mr. Sa'ad Abdel Razak, Vice President, Corporate and Retail Banking.
India's recently-appointed Consul-General in Dubai, Y.K. Sinha, said last month that Indian exports to the UAE totalled US$3 billion in 2002-2003, while India's non-oil imports from the UAE were valued at US$800 million over the same period. A high-level Indian delegation attended the recent Dubai 2003 event to learn more about opportunities for UAE-India trade.
Trade relations between the UAE and India are well established and set to grow. "UAE exports to India comprise mainly oil, fertilizers, chemicals and scrap metals, whilst Indian exports to the UAE consist mainly of jewellery, food, textiles, apparel, chemicals, engineering products and information technology," said Mr. Abdel Razak.
Since inception as the world's first Islamic Bank in 1975, Dubai Islamic Bank has developed an extensive range of corporate banking products and Shariah-compliant services to support economic development and to facilitate international trade.
DIB's attendance at the exhibition demonstrates its aim to use banking and finance products and services to boost international trade services, corporate, commercial real estate and project finance and business consultancy.
"Our understanding of our customers' needs and willingness to tailor solutions for them has enabled us to become one of the leading banks in the GCC and through our participation in the first UAE Trade Exhibition in India and other trade missions, we aim to extend this to other countries in the region," said Mr. Abdel Razak.
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DIB delegation to attend UAE Trade Exhibition in India
- United Arab Emirates: Thursday, October 23 - 2003 at 15:11
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Dubai Islamic Bank is to participate in the first UAE trade exhibition in India, reflecting burgeoning commercial ties between the two countries.
Sa'ad Abdel Razak, Vice President, Corporate and Retail Banking.
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Posted by Anne-Birte Stensgaard, Senior News EditorThursday, October 23 - 2003 at 15:11 UAE local time (GMT+4)
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This article was updated on Sat Mar 17 2007.
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For further information, please contact:
Fakher Daghestani/Sameh Hamtini
ASDA'A Public Relations,
Burson-Marsteller exclusive affiliate in the Middle East
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
Established on 1975, Dubai Islamic Bank is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. It was founded with active assistance of the UAE Government, the Central Bank and people of the UAE.
The economic and business philosophy of Islam encourages generation and sharing of profits. However, it forbids giving or taking of interest. Dubai Islamic Bank is the first Islamic bank in the world to practically implement this concept. Leveraging the strengths of Islamic business and economic concepts on one hand and state-of-the-art banking technology on the other, DIB creates partnerships with its customers to generate profits, which are then shared with them. DIB has created a vast array of Islamic banking and finance products to suit every conceivable need of its customers.
Fakher Daghestani/Sameh Hamtini
ASDA'A Public Relations,
Burson-Marsteller exclusive affiliate in the Middle East
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
Established on 1975, Dubai Islamic Bank is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. It was founded with active assistance of the UAE Government, the Central Bank and people of the UAE.
The economic and business philosophy of Islam encourages generation and sharing of profits. However, it forbids giving or taking of interest. Dubai Islamic Bank is the first Islamic bank in the world to practically implement this concept. Leveraging the strengths of Islamic business and economic concepts on one hand and state-of-the-art banking technology on the other, DIB creates partnerships with its customers to generate profits, which are then shared with them. DIB has created a vast array of Islamic banking and finance products to suit every conceivable need of its customers.
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